Euronext has announced that it has successfully launched the Euronext FX in Singapore. The venue was launched months ahead of schedule with the first spot foreign exchange trades occurring on September 9, 2019 between two global banks.
LeapRate reminds that the pan-European exchange in the Eurozone announced the rebranding of FastMatch, its Electronic Communication Network (ECN) for Foreign Exchange (FX) trading, into Euronext FX back in April 2019. FastMatch was acquired by Euronext in 2017 after buying out ex-CEO Dmitri Galinov.
Euronext FX has the first ever FX matching engine to be launched in Singapore. The new matching engine adds to the global capabilities of Euronext FX, which already operates matching engines in New York, London, and Tokyo.
The Singapore launch enables clients across the Asia-Pacific region, including Singapore, Australia, and Hong Kong, to benefit from an improved trading experience and connectivity.
Kevin Wolf, CEO of Euronext FX said:
Euronext FX’s decision to establish a matching engine and open an office in Singapore is an important and exciting step in the growth of our reach. As the largest FX center in Asia and the third largest globally, Singapore is a strategically important market, and poised to be a critical global hub for electronic foreign exchange trading – as evidenced by the recent influx of global firms since we first announced our intention to establish an operation here.
We look forward to continuing to work with the Monetary Authority of Singapore (MAS) and appreciate their active support to further grow the local financial ecosystem and our footprint.
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